A Toorak man has paid $680,000 more than the reserve for Doncaster’s oldest home, so his mum and mother-in-law can move into it together.
The result was a huge windfall for the descendants of those who built the cottage in 1853, ending their family’s connection with it almost 170 years later.
The $3.08m sale even smashed a multimillion-dollar pre-auction bid from the City of Manningham to buy the 10 Waldau Court property adjoining Ruffey Lake Park.
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The council had owned the property for a few years in the 1980s, but sold it back to the current vendors.
Kay & Burton executive director Scott Patterson called the private auction that started with a $1.88m opening bid and was called on the market at $2.4m with three parties bidding.
Mr Patterson said another two buyers, including the council, were outbid before making an offer under the hammer.
“The buyer was a fellow from Toorak who has bought it for his mother-in-law and his mother to live together,” he said. “I have never seen that. But my immediate reaction was that he is a very astute person.”
Mr Patterson added that one of the underbidders had been in tears after missing out, and noted that the property was as rare as they came.
“But I think it has gone to the right people, who have undertaken to carry on the curatorship there,” he said.
The heritage property features a number of barns and outbuildings, and is set on a substantial 4048sq m allotment.
Known as Friedensruh it is considered a contemporary of illustrious Melbourne addresses including Invergowrie in Hawthorn, which sold last year for more than $40m.
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